Many times people looking to get into rehabbing and flipping houses find it difficult to locate a real estate agent who will work with them. Here’s a letter I drew up to mail to agents. It was designed to be sent using our corporation letterhead. However, I’m sure you can adapt it to your own method or approach. The basic ideas can also be used when contacting Realtors either by phone or in person.
Dear _____________:
We are Real Estate Investors and we’re going to buy some houses in the _________ area. We use private funds to purchase these houses and can close quickly.
We’re looking for an agent who will research the MLS for properties that meet our criteria and fax or email us a copy of the listings. We will do a drive-by and present offers on most, if not all, of those that interest us.
Here is our list of criteria:
- 3 or 4-bedroom single family residences. No condos.
- For sale by lending institutions [banks, mortgage companies, loan companies, etc.], Estates, POAs.
- Preferably vacant.
- A decent house [“fixers” are ok] in a decent neighborhood [no “War Zones,” graffiti, etc.]
- Asking price at least 10% below Fair Market Value after repair.
Since we are investors, our offers will take into consideration the costs of repairs and a profit for us. Our experience has been that the sellers of these properties pay the selling agent a “bonus” on these, which provides the agent with a “fair” compensation for their efforts.
Last year we bought 10 of these types of properties, and we’re looking to buy at least 20 this year.
If you or any of your agents are interested in working with us on this, just fax or email a copy of the listings which meet our criteria and we’ll take it from there.
Our fax number is : XXX-XXXX
24-hr Answering Service number: XXX-XXXX
email address: [email protected]Sincerely,
Frank Bucholtz
I’m sure you can use it “as is” and get results or feel free to make whatever changes you like. I know you will anyway. And, that’s good. Good Hunting…